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T-Mobile US, Inc. shares are trading lower on Wednesday.
The company has announced a partnership with NVIDIA Corporation , Ericsson , and Nokia Corporation to shape the future of mobile networks by placing AI at the forefront.
This collaboration will enhance the capabilities of radio access networks (RAN) in innovative ways to better serve customers.
“Just like T-Mobile led in 5G, we intend to lead in the next wave of network technology, for the benefit of our customers,” said Mike Sievert, CEO of T-Mobile.
By leveraging T-Mobile’s leadership in 5G, along with the expertise of NVIDIA, Ericsson, and Nokia in telecommunications solutions, the group, known as the founding members of the AI-RAN Alliance, is investing in an industry-first AI-RAN Innovation Center located in Bellevue, Washington.
“AI-RAN at T-Mobile will be all about unlocking the massive capacity and performance that customers increasingly demand from mobile networks,” the CEO said.
This center will focus on integrating RAN and AI advancements to create transformative network experiences for customers.
The CEO stated that the collaboration among T-Mobile, NVIDIA, Nokia, and Ericsson would shape the future of mobile networks in the 5G Advanced era and beyond, driving meaningful progress.
In a separate release, the company announced that it has inked a pact with OpenAI to revolutionize the customer experience and reset customer success benchmarks for companies worldwide. The two companies are custom-building the first intent-driven AI-decisioning platform of its kind, called IntentCX.
Price Action: TMUS shares are trading lower by 2.5% to $197.57 at last check Wednesday.
Photo by viewimage on Shutterstock
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The artificial intelligence (AI) revolution is just heating up. To raise the stakes in this race, most tech companies with the necessary capital and resources have integrated AI into their existing products or developed new ones.
Nvidia , the chip giant, has emerged as a dominant player in the AI race, with revenue and earnings skyrocketing. While Nvidia's position remains seemingly unshakeable, at least one analyst believes differently.
Last month, Citi analyst Atif Malik stated that the AI revolution is now reaching its final stage, which is execution and devices. Per the analyst, the first two phases of AI were about planning and implementing with chips, servers, networking, and storage. The third and final stage, says Malik, will involve the creation of AI-integrated devices.
And Malik anticipates that while chip giant Nvidia dominated the early stages of the AI era, Apple will surpass Nvidia as the top AI stock by 2025. Let's find out why Citi thinks so.
Why Does Citi Think Apple Can Overshadow Nvidia?
Apple does not really need an introduction. It's one of the most well-known and beloved brands around the world. Its products, including the iPhone, iPad, Mac, Apple Watch, and Air Pods, are known for their sleek designs, innovative features, and ecosystem integration. Apple also has a growing services business, which includes the App Store, iCloud, Apple Pay, Apple Music, and Apple TV+.
Apple's ability to diversify its revenue streams while maintaining a loyal customer base has made it a dominant player in the technology industry. Apple stock has been an outstanding performer, returning around 760.7% over the last decade.
On Sept. 9, the company released the highly anticipated new iPhone 16 Pro and iPhone 16 Pro Max. Even if Apple does not provide significant upgrades, the release of new iPhones every year is always met with enthusiasm. However, Citi analysts believe the situation may be different this time.
The A18 Pro chip powers the iPhone 16 and includes Apple Intelligence, a new feature in this year's launch. Furthermore, the company claims that the Pro line has "larger display sizes, new creative capabilities with innovative pro camera features, stunning graphics for immersive gaming, better battery life, and more." Apple also specified that the new iPhones have a significantly longer battery life, which has always been a complaint about most Apple products.
Pre-orders have already begun, but investors have largely sold the news so far. Apple’s stock has gained 14.7% year-to-date, compared to the tech-heavy Nasdaq Composite’s ($NASX) gain of 17.4%.
Last month, Malik predicted that Apple's new AI-powered iPhones would spark a significant upgrade cycle for the company, but is primarily looking ahead to longer-term upside. Malik went on to say, "While the iPhone 16 will kick off Apple's AI-era, it's really the 2025 release of the iPhone 17 that will drive a coming sales boom."
Malik expects the company to sell "85 million iPhone 16 units in 2024 and 92 million iPhone 17 units in 2025." Overall, the company will sell 228 million iPhones in 2024 and 241 million in 2025, according to his estimates.
Following the launch, Wedbush analyst Dan Ives raised Apple's target price to $300, citing expectations that the iPhone 16 launch will increase its market capitalization to $4 trillion by 2025. Apple is currently sitting at a $3.3 trillion market cap.
According to Ives, approximately 300 million iPhone users have not upgraded their phones. The reason I believe could be because Apple has not provided any impressive or significant upgrades in recent years. However, Ives estimates that pent-up demand and Apple Intelligence-powered new iPhones will result in 240 million unit sales by 2025.
Furthermore, Ives believes China could be a key growth driver, citing Apple's plan to "partner with Baidu for a large language model to fuel its Apple Intelligence features."
In the most recent third quarter, Apple's total revenue increased by 5% year on year to $85.8 billion, with earnings up 11%. iPhones account for the majority of total sales among all of its products. iPhone sales fell 0.9% in Q3 to $39.3 billion. While investors seem disappointed by the lack of an immediate sales surge, the AI-powered iPhone 16 and the following line-up could significantly increase iPhone sales in the coming years.
What Do Other Analysts Say About Apple?
On average, analysts predict that Apple's revenue will rise by 1.8% in 2024 to $390.5 billion. Revenue could further increase by 7.6% in 2025, as the company gradually rolls out more AI features with the iPhone 17 next year. Earnings could rise by 9.1% in 2024, to $6.69 per share, and 10.8% in 2025, to $7.41.
Recently, Bernstein analyst Toni Sacconaghi reiterated his "outperform" rating for Apple stock. Sacconaghi believes that, despite investor concerns about the new iPhone wait times, Apple Intelligence and additional AI features will drive the company's financials in the coming years. The analyst expects a "stronger iPhone 17 cycle" next year, and has set a price target of $240 for AAPL.
Similarly, Bank of America Securities gave AAPL a "buy" rating and a price target of $256.
Overall, AAPL stock is a “moderate buy” on Wall Street. Of the 31 analysts following Apple stock, 18 have a “strong buy” recommendation, four suggest a “moderate buy,” eight rate it a “hold,” and one recommends a “strong sell.”
Based on analysts' average price target of $247.08, Wall Street expects a potential upside of about 12% in the next 12 months. The highest target price stands at $300, which suggests the stock could climb as much as 35.7% from current levels.
Priced at 29x forward 2025 earnings, the company is a tad bit expensive. Only time will tell whether Apple will triumph over Nvidia. However, given Apple's reputation, brand strength, and thirst for innovation with AI, the iPhone giant may be able to maintain its position as the leading tech company.
On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
2024 has been a terrific year for ETF launches, with more than 460 new products introduced so far, on track to surpass the all-time annual record set in 2023.
Approximately 70% of the recently launched products are actively managed, many of which involve covered call strategies for high-income generation. Additionally, buffer or defined outcome ETFs and single-stock ETFs have also experienced significant growth.
Rob Arnott, known as the “Godfather of Smart Beta,” launched his first ETF, which invests in companies dropped from major indexes like the S&P 500 and the Russell 1000. The Research Affiliates Deletions ETF NIXT holds beaten-down stocks and is essentially a wager on long-term mean reversion.
The ERShares Private-Public Crossover ETF XOVR aims to provide access to the most entrepreneurial large-cap companies and can hold up to 15% private equity securities. Private assets are generally not well-suited for the ETF model, but many ETF providers are trying to bring this lucrative area of the market to ETF investors.
The Defiance Daily Target 1.75x Long MSTR ETF MSTX, the most volatile ETF in the U.S., according to Bloomberg Intelligence, has gathered over $190 million within a month of its debut. MicroStrategy MSTR, a Bitcoin proxy, had gained more than 100% earlier this year, while the 3X leveraged ETP had plunged more than 80% due to volatility decay.
Tradr ETFs recently launched a suite of eight “Calendar Reset Leveraged ETFs.” These new products rebalance either weekly or monthly, aiming to reduce volatility drag.
Six new ETFs seek 200% exposure to the weekly or monthly performance of the SPDR S&P 500 ETF SPY, the Invesco QQQ ETF QQQ, and the iShares Semiconductor ETF SOXX, respectively. The other two ETFs provide long leveraged weekly exposures to NVIDIA NVDA and Tesla TSLA.
To learn more, please watch the short video above.
Zacks Investment Research
To gain an edge, this is what you need to know today.
Fed Credibility At Stake
Please click here for an enlarged chart of SPDR S&P 500 ETF Trust which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
Housing Starts
Housing starts came at 1356K vs. 1320K consensus.
Building permits came at 1475K vs. 1415K consensus.
In The Arora Report analysis, activity among builders is increasing as they anticipate falling interest rates will let loose pent up demand. This will increase economic activity, which in turn is good for the stock market.
Magnificent Seven Money Flows
In the early trade, money flows are positive in Apple Inc , Alphabet Inc Class C , Meta Platforms Inc , Microsoft Corp , and Tesla Inc .
In the early trade, money flows are neutral in Amazon.com, Inc. and NVIDIA Corp .
In the early trade, money flows are positive in SPY and Invesco QQQ Trust Series 1 .
Momo Crowd And Smart Money In Stocks
Investors can gain an edge by knowing money flows in SPY and QQQ. Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil. The most popular ETF for gold is SPDR Gold Trust . The most popular ETF for silver is iShares Silver Trust . The most popular ETF for oil is United States Oil ETF .
Bitcoin
Bitcoin is seeing buying in anticipation of a 50 bps rate cut. Bullish crypto gurus are hopeful that a 50 bps cut will take bitcoin to a new high.
Protection Band And What To Do Now
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash. When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.
Traditional 60/40 Portfolio
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever Generate Wealth Newsletter.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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